Office Depot Inc (ODP) Expected to Post Earnings of $0.12 Per Share

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Analysts expect that Office Depot Inc (NASDAQ:ODP) will post $0.12 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Office Depot’s earnings, with the highest EPS estimate coming in at $0.13 and the lowest estimate coming in at $0.11. Office Depot posted earnings of $0.14 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The business is expected to issue its next quarterly earnings results on Thursday, November 8th.

On average, analysts expect that Office Depot will report full-year earnings of $0.33 per share for the current fiscal year, with EPS estimates ranging from $0.32 to $0.34. For the next fiscal year, analysts forecast that the business will report earnings of $0.37 per share, with EPS estimates ranging from $0.33 to $0.40. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Office Depot.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. During the same quarter in the previous year, the business earned $0.06 earnings per share.

A number of research firms have weighed in on ODP. BidaskClub lowered Office Depot from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. ValuEngine lowered Office Depot from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded Office Depot from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a report on Tuesday, July 10th. Finally, Bank of America restated a “buy” rating and set a $4.00 target price on shares of Office Depot in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Office Depot presently has an average rating of “Hold” and an average target price of $3.75.

A number of institutional investors have recently bought and sold shares of ODP. BlackRock Inc. lifted its holdings in shares of Office Depot by 34.0% during the 2nd quarter. BlackRock Inc. now owns 72,728,081 shares of the specialty retailer’s stock valued at $185,458,000 after purchasing an additional 18,466,409 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Office Depot by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 42,881,014 shares of the specialty retailer’s stock valued at $109,349,000 after purchasing an additional 4,618,163 shares during the last quarter. Towle & Co. lifted its holdings in shares of Office Depot by 7.1% during the 2nd quarter. Towle & Co. now owns 12,067,578 shares of the specialty retailer’s stock valued at $30,772,000 after purchasing an additional 795,418 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Office Depot by 557.0% during the 2nd quarter. SG Americas Securities LLC now owns 10,316,418 shares of the specialty retailer’s stock valued at $26,307,000 after purchasing an additional 8,746,140 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Office Depot by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,311,717 shares of the specialty retailer’s stock valued at $26,295,000 after purchasing an additional 437,798 shares during the last quarter. Institutional investors own 90.55% of the company’s stock.

Shares of NASDAQ ODP traded down $0.01 during trading hours on Friday, reaching $2.82. The stock had a trading volume of 3,178,953 shares, compared to its average volume of 5,869,431. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.38. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 6.27, a PEG ratio of 0.54 and a beta of 2.70. Office Depot has a 52-week low of $2.00 and a 52-week high of $3.93.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 3.55%. Office Depot’s dividend payout ratio is currently 22.22%.

About Office Depot

Office Depot, Inc engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom. The Retail segment involves in selling merchandise through chain of office supply stores and offers products and services in the categories of supplies, technology, and furniture and other.

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